CLEARING, a New York-based gallery known for representing artists such as Marguerite Humeau, Korakrit Arunanondchai, and Harold Ancart, is closing its Manhattan and Los Angeles locations after 14 years. Founder Olivier Babin announced the closure on Instagram, citing no viable path forward due to rising overhead costs for rent, shipping, and art fairs, alongside declining revenues. The gallery opened in Brooklyn in 2011, later expanded to Brussels, and moved to a larger Bowery space in 2023 before the financial pressures became unsustainable. Its final exhibitions were solo shows by Coco Young in New York and Henry Curchod in Los Angeles.
The closure marks the fourth major gallery to shut in the past month, following BLUM, Venus Over Manhattan, and Kasmin, reflecting a broader contraction in the art market. CLEARING’s exit underscores the mounting financial challenges facing mid-sized galleries, particularly those that expanded aggressively during a market downturn. The gallery’s Brussels location will continue independently under former director Lodovico Corsini, but the shuttering of its U.S. operations signals a significant shift in the gallery landscape, especially for the New York and Los Angeles art scenes.